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Author Topic: At what pricepoint is bitcoin dead?  (Read 25773 times)
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October 17, 2011, 01:46:20 PM
 #81


lol  Wink

CryptoCurrency for Gemstones ... Website | Main Thread  -  c0c0 Trading on YoBit
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October 17, 2011, 04:01:38 PM
 #82

I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

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October 17, 2011, 04:14:35 PM
 #83

I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

Is there some unwritten rule that says "All bitcoin discusions must eventually mention Silk Road"?

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October 17, 2011, 04:15:29 PM
 #84

I think bitcoin is still useful unless it drops to 1 Satoshi, then basically it is not useful for trade or speculations.
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October 17, 2011, 04:19:36 PM
 #85

I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

Is there some unwritten rule that says "All bitcoin discusions must eventually mention Silk Road"?

How do you propose why ppl want to use bitcoin then? The only reason i can think of is anonymous transaction.

The concept is nice for all geeks but i dont think it would ever get accepted as currency.

I'm not even talking about the illegal activities yet.

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October 17, 2011, 04:25:04 PM
 #86

I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

Is there some unwritten rule that says "All bitcoin discusions must eventually mention Silk Road"?

WOW! I just now saw the current price. I haven't looked at it for a couple days.



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October 17, 2011, 04:37:41 PM
 #87

I don't know why the price dropped today. I know the price dropped from $31 due to exactly one thing: Silk Road closing registrations.

Is there some unwritten rule that says "All bitcoin discusions must eventually mention Silk Road"?

How do you propose why ppl want to use bitcoin then? The only reason i can think of is anonymous transaction.

The concept is nice for all geeks but i dont think it would ever get accepted as currency.

I'm not even talking about the illegal activities yet.


I was going to post a thread the other day that would address this issue with a solution that others here could've commented on but I got sidetracked with Atlas leaving, and then Ragnar. Perhaps if I, and others, concentrated our energies on important issues, we could get this train back on track. It's so easy, though, to get caught up in the cynical narrative, we tend to forget what exactly is at stake.

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October 17, 2011, 11:17:14 PM
 #88

I think bitcoin is still useful unless it drops to 1 Satoshi, then basically it is not useful for trade or speculations.

what does this mean? how does bitcoin 'drop to 1 satoshi'?


I don't know it put my brain into a recursive loop.

1 satoshi = 1E-8 BTC

So if 1 BTC = 1E-8 BTC?

Now that would likely kill BTC if 1 BTC is equal to 1/100,000th of itself.
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October 17, 2011, 11:47:14 PM
 #89

I think bitcoin is still useful unless it drops to 1 Satoshi, then basically it is not useful for trade or speculations.

what does this mean? how does bitcoin 'drop to 1 satoshi'?


I don't know it put my brain into a recursive loop.

1 satoshi = 1E-8 BTC

So if 1 BTC = 1E-8 BTC?

Now that would likely kill BTC if 1 BTC is equal to 1/100,000th of itself.

It's the new math:


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October 18, 2011, 12:50:35 AM
 #90

I love bitcoin, the concept, it is scientifically sound, great idea.  BUT and a HUGGGGE BUTT.  What do you need it for, what or why do you need to buy something with bitcoin unless its silk road?  Anonomous is the only part I see that it has, but cash can have just as good as anonononymity as Bitcoin so really not a benefit there.  I just dont see it ever hitting mainstream as a currency.  It was a great ride, nice bubble, some people got really really fucking paid off of this like a ponzi scheme and now its just holding on for dear life.  I think its cool, but beyond that it really has lost its purpouse unless many many things change.

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October 18, 2011, 01:42:56 AM
 #91

Like I keep saying. Crypto-currency is a fundamentally new technology people don't really understand. I remember when fractals were discovered. For a long time, people thought they were only good for making landscape pictures. Now fractals are integral in all areas of science and have revolutionized technology. Bitcoin has incredible possibilities we haven't figured out yet.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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October 18, 2011, 02:47:37 AM
 #92

The more important question, for me at least, is: At what price point do people stop bitching about early adopters?

People will bitch about early adopters until 2021, when the generation curve really begins to stall.

You guys have really come up with somethin'
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October 18, 2011, 03:06:49 AM
 #93

What do you need it for

Sending money instantly across the world with no fees or intervening parties.
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October 18, 2011, 03:20:24 AM
 #94

What do you need it for

Sending money instantly across the world with no fees or intervening parties.

What is money?

unless its bitcoin itself, your statement is full of errors.

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October 18, 2011, 03:23:28 AM
 #95

I think bitcoin is still useful unless it drops to 1 Satoshi, then basically it is not useful for trade or speculations.

what does this mean? how does bitcoin 'drop to 1 satoshi'?


I don't know it put my brain into a recursive loop.

1 satoshi = 1E-8 BTC

So if 1 BTC = 1E-8 BTC?

Now that would likely kill BTC if 1 BTC is equal to 1/100,000th of itself.

It's the new math:




Dividing by zero when nobody is looking eh?  Tongue

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October 18, 2011, 04:40:39 AM
 #96

What do you need it for


I understood one thing it may be needed for when back in June I saw someone use it to send $10.5mil worth overseas, with money fully transfering within 30 minutes, and paid only about $15 to do it.

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October 18, 2011, 04:50:05 AM
 #97

What do you need it for


I understood one thing it may be needed for when back in June I saw someone use it to send $10.5mil overseas, with money fully transfering within 30 minutes, and paid only about $15 to do it.
what do you mean "you saw", are you saying they did it in front of you? cause i'm curious to know which exchange allowed such large transaction...

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October 18, 2011, 04:57:54 AM
 #98

I understood one thing it may be needed for when back in June I saw someone use it to send $10.5mil worth overseas, with money fully transfering within 30 minutes, and paid only about $15 to do it.

I'm curious if that person overseas is now holding $1.05 million worth of BTC? If so, I'd ask for that $15 fee back.
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October 18, 2011, 05:01:42 AM
 #99

I understood one thing it may be needed for when back in June I saw someone use it to send $10.5mil worth overseas, with money fully transfering within 30 minutes, and paid only about $15 to do it.

I'm curious if that person overseas is now holding $1.05 worth of BTC? If so, I'd ask for that $15 fee back.


I wouldn't know. (Did you mean $1.25mil worth?). I hope they liquidated it over time.

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October 18, 2011, 05:03:05 AM
 #100

(Did you mean $1.25mil worth?).

Doh! Yes. Edited.
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